From Tragedy to Tokens: The Cryptocurrency Battle Over Peanut and Fred
Social media, meme coins, and animal rights collide in a whirlwind saga.
Mark Longo, the pet owner at the heart of a viral controversy, has launched a cryptocurrency token called JUSTICE in memory of his euthanized squirrel Peanut and raccoon Fred. The token’s debut follows Longo’s sharp criticism of the crypto community for monetizing his tragedy, sparking debate over ethics and opportunism in the volatile world of meme coins.
The saga began when New York State environmental officers seized the two animals from Longo’s Pine City sanctuary on October 30. Peanut, a social media sensation with over 500,000 followers, reportedly bit someone during the seizure. The New York Department of Environmental Conservation cited rabies concerns as justification for euthanizing both animals on November 1.
Public outrage ensued, fueled by social media posts and high-profile comments. Elon Musk called the situation “messed up,” while Vice President-elect JD Vance condemned the state’s actions as government overreach. The incident even caught the attention of former President Donald Trump, who reportedly expressed anger over the case during a rally in Sanford, North Carolina.
Amid the uproar, crypto traders launched PNUT, a Solana-based meme coin inspired by Peanut’s story. The token’s trading volume skyrocketed to $150 million following Musk’s comments, highlighting how quickly viral narratives can translate into financial market activity.
However, Longo soon accused the crypto community of exploiting his pets’ tragedy. In a video shared on Twitter, he said, “The crypto world has taken my tragedy and profited every which way possible.” Despite this criticism, Longo surprised many by launching his own token, Justice for Pnut and Fred (JUSTICE), also on the Solana blockchain.
Using the DeFi meme coin platform Pump.fun, Longo’s JUSTICE token has attracted 14,000 holders and reached a market cap of $53.8 million, according to Solscan data. Longo declared in his announcement, “JUSTICE will be the only coin I will be affiliated with forever,” distancing himself from the PNUT community.
Members of the PNUT community responded with skepticism, pointing out that Longo had previously received approximately $50,000 in donations, which they allege he quickly liquidated. The creation of competing tokens has sparked further controversy, as both projects continue to attract traders while vying for legitimacy.
The ethical implications of monetizing a viral tragedy have drawn broader scrutiny, especially as similar controversies emerge in the meme coin space. In a parallel case, artist Philip Banks announced plans to sue cryptocurrency projects using his "Chill Guy" meme without permission. One such token, CHILLGUY, saw its market cap surge from $13 million to $517 million within days, underscoring the speculative frenzy surrounding meme-based tokens.
The Peanut and Fred story has also deepened political divides. JD Vance’s comments at a rally highlighted the event as an emblem of government overreach, adding fuel to the debate over wildlife regulation. Meanwhile, the New York Department of Environmental Conservation has defended its actions, citing compliance with state laws prohibiting the keeping of wild animals as pets.
The cryptocurrency market’s rapid response to the Peanut and Fred narrative illustrates the fusion of social media and speculative finance. Within days, multiple tokens emerged, each claiming to honor the animals while capitalizing on public sentiment.
Longo’s dual role as a critic of crypto profiteering and a token creator himself has drawn mixed reactions, reflecting the complexities of meme coin culture. His JUSTICE token, alongside PNUT, continues to generate significant trading activity as traders, animal rights advocates, and onlookers debate the ethics of monetizing viral stories.
With legal threats looming and market caps fluctuating, the saga of Peanut and Fred is far from over. Whether JUSTICE or PNUT prevails—or both fade into crypto obscurity—this story has already cemented itself as a cautionary tale of how digital finance intersects with public outrage.
photo source / Blockonome
